Cashel Caravan and Camping Park, Rowardennan

Rowardennan,
G63 0AW

Premium O/O

£185,000


Type

Other

City

Glasgow

Tenure

Leasehold

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  • Description

    LOCATION

    Cashel Caravan and Camping Park is situated in an area of great scenic beauty, within a National Park. The park lies on the banks of Loch Lomond, which is a highly popular area for tourists during the summer months. It is located on the West Highland Way and the popular tourist location of Balmaha is also situated nearby. This is a superb trading location for a caravan and camping park, within easy commuting distance to the highly populated central belt of Scotland.

    TOWNMILESDRIVE TIME
    Balmaha37 mins
    Ben Lomond49 mins
    Drymen714 mins
    Balloch1427 mins
    Glasgow Airport3358 mins
    Glasgow City Centre291 hr 10 mins


    LOCH LOMOND & THE TROSSACHS NATIONAL PARK

    Loch Lomond and the Trossachs National Park provides some of the finest scenery in Scotland and extends to over 720 square miles. The National Park is very conveniently located for domestic holidaymakers with approximately 50% of the Scotland population living within one hours’ drive time. It has 21 Munros and 22 large lochs and attracts over 7 million visitor days and 4 million visitors annually. It is one of the most popular national parks in the United Kingdom.

    DESCRIPTION

    The Park is set over a large site extending to approximately 13 acres. It has a generally level topography, sloping marginally from the access to the shores of Loch Lomond. There are various open plan caravan/motor home and camping areas, many of which have direct access to the shores of Loch Lomond.

    ACCOMMODATION

    Pitches

    The park has consent for 168 pitches, of which 121 have electric hook-up points.

    Amenity Blocks

    One larger amenity block formed in a timber framed building with shower cubicles, toilets, launderette and wash area. There is a further, more traditionally constructed amenity block with similar accommodation.

    Reception and Shop

    There is a reception area, shop, small domestic kitchen and storage rooms.

    Other

    Storage sheds, fenced storage area, fresh water with grey water disposal points and chemical disposal points. There is also a children’s play area.

    Services

    We understand that the park is serviced by mains electricity and water. There are septic tanks on site, together with LPG gas tanks.

    RATEABLE VALUE

    The premises have a Rateable Value of £23,250.

    THE BUSINESS

    Cashel Caravan and Camping Park operates with touring pitches only. The property is situated in a highly scenic and popular tourist location, directly on the banks of Loch Lomond. There are many income drivers, which include the West Highland Way, which runs virtually adjacent to the campsite, as well as short stay and longer holiday visitors partaking in the many outdoor pursuits in the area.  Revenue to the business has increased substantially over the last few years, led by the increased demand for camping and a surge in domestic/staycation tourism.

    The revenue of the business to year ending February 2022 was approximately £515,000 net of VAT, with an EBITDAR (Earnings Before Interest, Tax, Depreciation, Amortisation and Rent) in the region of £330,000. A summary of historic accounting information is provided below:

    Year End February202220202019
    Total Income£516,050£360,915£317,550
    Total Costs£188,766£200,863£171,915
    EBITDAR£327,284£160,052£145,635


    NOTE:  The business did not operate to year end February 2021.

    THE OPPORTUNITY

    Cashel is a superb caravan park, situated in a highly scenic setting.  The overall demise is large, which provides considerable scope to an incoming tenant to adapt and change the facilities, which may include lodges, static pitches, glamping pods and yurts etc.

    Consideration may be given to off-setting an element of the premium against tenant capital expenditure. This will very much depend on the tenant’s plans for the park.

    ASKING TERMS

    The site and business have been placed on the market based on a new long-term lease. The rent is £90,000 per annum and we are seeking Premium Offers Over £185,000 for the business. The lease will be on a tenant full repairing and insuring basis. We anticipate the lease will be for a term of 15 years with rent reviews at 5 yearly intervals. The lease length is open to negotiation dependant on a tenant’s long-term plans, and may include a future turnover rental calculation.

    EPC

    A copy of the EPC can be provided to interested parties.

    ANTI MONEY LAUNDERING

    The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, came into force on the 26th June 2017. This now requires us to conduce due diligence on property purchasers. Once an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.

    IMPORTANT INFORMATION

    BACKGROUND

    Forestry and Land Scotland (FLS) do not directly operate the Caravan and Camping site and are landlords of the site.   FLS acquired the Camping and Caravanning Club’s (the operator) tenant’s interest on the 28th February 2022.   The Camping and Caravanning Club continue to manage the site under a management agreement which is due to expire on the 30th November 2022.

    ACCOUNTING INFORMATION

    The financial information contained within the marketing brochure and the detailed profit and loss accounts (which can be provided to seriously interested parties) are management accounts prepared by the Camping and Caravanning Club.  Whilst FLS are not aware of any inaccuracies in the financial information, they did not prepare the financial information and do not directly operate the business.   As such, FLS give no warranty whatsoever to an incoming tenant/purchaser in relation to the accuracy or otherwise of all financial information.  Any incoming tenant/purchaser must satisfy themselves through preparation of their own business plan on the likely future performance of the business.

    TUPE/STAFF

    As with the sale of any going concern business, staff who are employed at that business will transfer over to the purchaser/incoming tenant under TUPE regulations.  There are a number of staff on seasonal contracts and these contracts expire on a seasonal basis, although, where there are non-seasonal staff employed, then TUPE transfer will apply.

    OFFERS AND CLOSING DATE

    A closing date may be set during the marketing process, inviting offers from interested parties.  Our clients are not bound, at any time, to accept the highest or, indeed, any offer for the individual site.  In the event that a closing date is set, the interested parties who have previously registered interest with CDLH will be advised of that closing date.   At the closing date, interested parties will be advised of the assessment criteria for offers which are received.

    SITE LICENCE

    The park does not have a site licence as the park has benefited from approved organisation exemption.  The landlords are investigating whether this approved exemption can be retained under a new lease.  If it cannot be retained, the landlords will commence the process of obtaining a site licence.  It is anticipated a licence (if required) will be in place by Autumn 2022.

    ADDITIONAL INFORMATION AND CONTACT

    Visuals of the site are also available at: https://www.campingintheforest.co.uk/scotland/loch-lomond/cashel-campsite

    For any additional information please do not hesitate to contact the sole letting agent.

    Peter Darroch

    07901 001311

    E: peter.darroch@cdlh.co.uk

    Alan Creevy

    07901 001911

    E: alan.creevy@cdlh.co.uk

    CDLH

    166 Buchanan Street, Glasgow

    G1 2LW

    T: 0141 331 0650

     


  • Floor Plans

    There are no property floorplans available

  • Dataroom

    There are no property datarooms available

  • Description

    LOCATION

    Cashel Caravan and Camping Park is situated in an area of great scenic beauty, within a National Park. The park lies on the banks of Loch Lomond, which is a highly popular area for tourists during the summer months. It is located on the West Highland Way and the popular tourist location of Balmaha is also situated nearby. This is a superb trading location for a caravan and camping park, within easy commuting distance to the highly populated central belt of Scotland.

    TOWNMILESDRIVE TIME
    Balmaha37 mins
    Ben Lomond49 mins
    Drymen714 mins
    Balloch1427 mins
    Glasgow Airport3358 mins
    Glasgow City Centre291 hr 10 mins


    LOCH LOMOND & THE TROSSACHS NATIONAL PARK

    Loch Lomond and the Trossachs National Park provides some of the finest scenery in Scotland and extends to over 720 square miles. The National Park is very conveniently located for domestic holidaymakers with approximately 50% of the Scotland population living within one hours’ drive time. It has 21 Munros and 22 large lochs and attracts over 7 million visitor days and 4 million visitors annually. It is one of the most popular national parks in the United Kingdom.

    DESCRIPTION

    The Park is set over a large site extending to approximately 13 acres. It has a generally level topography, sloping marginally from the access to the shores of Loch Lomond. There are various open plan caravan/motor home and camping areas, many of which have direct access to the shores of Loch Lomond.

    ACCOMMODATION

    Pitches

    The park has consent for 168 pitches, of which 121 have electric hook-up points.

    Amenity Blocks

    One larger amenity block formed in a timber framed building with shower cubicles, toilets, launderette and wash area. There is a further, more traditionally constructed amenity block with similar accommodation.

    Reception and Shop

    There is a reception area, shop, small domestic kitchen and storage rooms.

    Other

    Storage sheds, fenced storage area, fresh water with grey water disposal points and chemical disposal points. There is also a children’s play area.

    Services

    We understand that the park is serviced by mains electricity and water. There are septic tanks on site, together with LPG gas tanks.

    RATEABLE VALUE

    The premises have a Rateable Value of £23,250.

    THE BUSINESS

    Cashel Caravan and Camping Park operates with touring pitches only. The property is situated in a highly scenic and popular tourist location, directly on the banks of Loch Lomond. There are many income drivers, which include the West Highland Way, which runs virtually adjacent to the campsite, as well as short stay and longer holiday visitors partaking in the many outdoor pursuits in the area.  Revenue to the business has increased substantially over the last few years, led by the increased demand for camping and a surge in domestic/staycation tourism.

    The revenue of the business to year ending February 2022 was approximately £515,000 net of VAT, with an EBITDAR (Earnings Before Interest, Tax, Depreciation, Amortisation and Rent) in the region of £330,000. A summary of historic accounting information is provided below:

    Year End February202220202019
    Total Income£516,050£360,915£317,550
    Total Costs£188,766£200,863£171,915
    EBITDAR£327,284£160,052£145,635


    NOTE:  The business did not operate to year end February 2021.

    THE OPPORTUNITY

    Cashel is a superb caravan park, situated in a highly scenic setting.  The overall demise is large, which provides considerable scope to an incoming tenant to adapt and change the facilities, which may include lodges, static pitches, glamping pods and yurts etc.

    Consideration may be given to off-setting an element of the premium against tenant capital expenditure. This will very much depend on the tenant’s plans for the park.

    ASKING TERMS

    The site and business have been placed on the market based on a new long-term lease. The rent is £90,000 per annum and we are seeking Premium Offers Over £185,000 for the business. The lease will be on a tenant full repairing and insuring basis. We anticipate the lease will be for a term of 15 years with rent reviews at 5 yearly intervals. The lease length is open to negotiation dependant on a tenant’s long-term plans, and may include a future turnover rental calculation.

    EPC

    A copy of the EPC can be provided to interested parties.

    ANTI MONEY LAUNDERING

    The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, came into force on the 26th June 2017. This now requires us to conduce due diligence on property purchasers. Once an offer has been accepted, the prospective purchaser(s) will need to provide, as a minimum, proof of identity and residence.

    IMPORTANT INFORMATION

    BACKGROUND

    Forestry and Land Scotland (FLS) do not directly operate the Caravan and Camping site and are landlords of the site.   FLS acquired the Camping and Caravanning Club’s (the operator) tenant’s interest on the 28th February 2022.   The Camping and Caravanning Club continue to manage the site under a management agreement which is due to expire on the 30th November 2022.

    ACCOUNTING INFORMATION

    The financial information contained within the marketing brochure and the detailed profit and loss accounts (which can be provided to seriously interested parties) are management accounts prepared by the Camping and Caravanning Club.  Whilst FLS are not aware of any inaccuracies in the financial information, they did not prepare the financial information and do not directly operate the business.   As such, FLS give no warranty whatsoever to an incoming tenant/purchaser in relation to the accuracy or otherwise of all financial information.  Any incoming tenant/purchaser must satisfy themselves through preparation of their own business plan on the likely future performance of the business.

    TUPE/STAFF

    As with the sale of any going concern business, staff who are employed at that business will transfer over to the purchaser/incoming tenant under TUPE regulations.  There are a number of staff on seasonal contracts and these contracts expire on a seasonal basis, although, where there are non-seasonal staff employed, then TUPE transfer will apply.

    OFFERS AND CLOSING DATE

    A closing date may be set during the marketing process, inviting offers from interested parties.  Our clients are not bound, at any time, to accept the highest or, indeed, any offer for the individual site.  In the event that a closing date is set, the interested parties who have previously registered interest with CDLH will be advised of that closing date.   At the closing date, interested parties will be advised of the assessment criteria for offers which are received.

    SITE LICENCE

    The park does not have a site licence as the park has benefited from approved organisation exemption.  The landlords are investigating whether this approved exemption can be retained under a new lease.  If it cannot be retained, the landlords will commence the process of obtaining a site licence.  It is anticipated a licence (if required) will be in place by Autumn 2022.

    ADDITIONAL INFORMATION AND CONTACT

    Visuals of the site are also available at: https://www.campingintheforest.co.uk/scotland/loch-lomond/cashel-campsite

    For any additional information please do not hesitate to contact the sole letting agent.

    Peter Darroch

    07901 001311

    E: peter.darroch@cdlh.co.uk

    Alan Creevy

    07901 001911

    E: alan.creevy@cdlh.co.uk

    CDLH

    166 Buchanan Street, Glasgow

    G1 2LW

    T: 0141 331 0650

     


  • Floor Plans

    There are no property floorplans available

  • Dataroom

    There are no property datarooms available


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